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Neil Budde, one of the publishing industry’s earlier Internet proponents, realized years ago how to create an online success story. Perhaps just as important, he figured out what not to do. As editor of the Wall Street Journal Interactive Edition, the 41-year-old Buddehas translated Dow Jones’ rock-solid print franchise into one of the Web’s most promising pay services-one that he says will soon be profitable. The Interactive Edition has now registered some 175,000 paid subscribers, about one-third of whom are paying the $29 fee for a supplementary subscription to the print newspaper.
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